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#37284 - 10/16/02 02:36 PM Principal Curtailment?
SouthoftheBorder Offline
Gold Star
Joined: Feb 2002
Posts: 335
The South
Several commercial loan officers think that there is a State Law requiring principal reduction of 3% annually on an "interest only" loan.....I searched Code of VA and could not find where this is required......Is this something from the past or is it a law that I couldn't find?????

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#37285 - 10/25/02 12:22 PM Re: Principal Curtailment?
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,056
Toano, VA
I never heard of it. Did you ask VBA?
_________________________
...gone fishing.

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